Administration rolls out Medicare drug negotiations

WASHINGTON – The Department of Health and Human services has announced the first 10 medicines under Medicare Part D that have been selected under the Medicare Drug Price Negotiation Program.

They are: Eliquis, Jardiance, Xarelto, Januvia, Farxiga, Entresto, Enbrel, Imbruvica, Stelara, and Fiasp and Novolog insulin products.

These drugs accounted for $50.5 billion in total Part D gross covered prescription drug costs, or about 20%, of total Part D gross covered prescription drug costs between June 1, 2022, and May 31, 2023, which is the time period used to determine which drugs were eligible for negotiation.

“Today marks a significant and historic moment for the Medicare program with the announcement of the first drugs selected for Medicare drug price negotiation,” said CMS Administrator Chiquita Brooks-LaSure. “Our goal with these negotiations is to improve access to some of the costliest drugs for millions of people with Medicare while driving competition and innovation.” 

The negotiations will occur in 2023 and 2024 with the negotiated prices effective beginning in 2026. In addition, CMS is announcing more information about patient-focused listening sessions on the selected drugs with interested parties that will occur in Fall 2023.

“Promoting transparency and engagement continue to be at the core of how we are implementing the new drug law and the Medicare Drug Price Negotiation Program, and that is why we set out a process for the first round of negotiation that engages the public throughout,” said Meena Seshamani, MD, PhD, CMS Deputy Administrator and Director of the Center for Medicare. “Along with the announcement of the selected drugs, we announced CMS’ plans to host a patient-focused listening session for each selected drug to hear directly from patients and others.”

View the HHS press release.

View a fact sheet on the drugs selected for the Medicare Drug Price Negotiation Program, as well as more information about the patient-focused listening sessions.

More information on the patient-focused listening sessions is available at https://www.cms.gov/inflation-reduction-act-and-medicare/medicare-drug-price-negotiation-program-patient-focused-listening-sessions.

More information on the Medicare Drug Price Negotiation Program is available at https://www.cms.gov/inflation-reduction-act-and-medicare/medicare-drug-price-negotiation.